Exam 17: Banking Services and Procedures

The petty cash till has 52 quarters, 43 dimes, 19 nickels, and 24 pennies. What is the total amount of change in the till?

Which of the following is not one of the four types of endorsements?

The name of the first endorser of the check indicates the last person who received the money.

The name of the last endorser of the check shows who last __________ the money.

A check drawn on the bank's own account and signed by an authorized bank official is called a

Electronic payments can be made using the routing and account number and are processed at banks like regular checks.

If a bank cashes a check that is later returned for insufficient funds, whom does it charge to recover the amount lost?

The three most common types of bank accounts are checking accounts, savings accounts, and money market savings accounts.

A person who writes a check is sometimes called the __________.

Which of the following best describes an ACH transfer of funds between two separate banking institutions?

The physician charges $450 for a procedure, and the patient pays one third of the total by check. For what amount is the check written?

A signature on the back of a check whereby the rights of the check are transferred to another party is called a(n) __________.

If the medical assistant is allowed to sign checks on the physician's business account, he or she must sign a document at the bank called a

Which of the following types of accounts requires a minimum balance and draws interest at the highest rates?

Which of the following is required for a check endorsement?

A(n) __________ endorsement is used in preparing checks for deposit to the physician's checking account.

The __________ discloses any errors that may exist in the checkbook or, on rare occasions, the bank statement.

When an account is opened at a bank, the depositor will be required to complete a __________ card.

During the monthly reconciliation of the checkbook, the bank statement balance is $16,589.24. The checkbook balance is $16,569.24. The medical assistant should look for an error in what amount?

The deposit is $3,290. The checkbook balance is $16,561, but the mortgage payment on the physician's building is paid the same day, which is $3,500. What is the checkbook balance?